Remy Cointreau rises after Q4 sales beat driven by China

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BUZZ-Remy Cointreau rises after Q4 sales beat driven by China

** Shares in Remy Cointreau RCOP.PA rise around 4% after the spirits maker reported a far smaller-than-expected fall in Q4 sales thanks to growth in China

** Organic cognac sales grew 15.4%, bringing the group-level sales decline to just 0.7%, while analysts expected a 3.4% decline in organic sales with flat cognac sales at 0.5%

** “Cognac Q4 LFL, at +15.4% (vs cons. flat), came in ahead of expectations, supported by strong performance in China due to shipment phasing and CNY (Chinese New Year) timing,” J.P.Morgan analysts say in a note

** “Lack of new negative today should see the shares gently better first thing,” Jefferies says

** Still, it adds that despite the beat there is still low visibility on the recovery timing, while consensus expectations need to narrow for FY 2025

Reporting by Stéphanie Hamel, Emma Rumney

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